World’s largest oil firm chief touts research to make fossil fuels ‘cleaner’

While oil demand is expected to rise from 85 million barrels a day to 120 million barrels a day by 2030, Jum’ah said global oil reserves are plentiful. Between proven reserves and expected new fields, there should be enough oil to provide 140 years’ supply at today’s consumption rates.

Jum’ah said that proven conventional oil reserves total 1.2 trillion barrels and proven unconventional reserves 1.5 trillion barrels. He estimated another 2 trillion barrels are available to be discovered.

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